Eye Rs 75-80 crore revenues from govt defence orders: Solar Ind

Solar Industries is betting big on defence orders from the government in the current fiscal. The company, which has set up manufacturing units for high energy products, is expecting Rs 75-80 crore revenue from these orders, says Nilesh Panpaliya, CFO of Solar Industries. Speaking to CNBC-TV18, Panpaliya says that revenues are likely to double ever year. By 2020, defence orders could contribute nearly Rs 500-600 crore to the company’s revenues. Panpaliya is hoping for a 20-25 percent growth based on current demand.Solar Industries also fulfills 20 percent explosives demand of Coal India. In the last tender, company had won 1.3 lakh tonne order and in the next additional tender, scheduled for April 2018, company hopes to bag more. The company recently entered the Turkey market and will enter the South Africa market in October this year.Watch video for more..